OUGD505 / STUDIO BRIEF 02 / PRICE RESEARCH

In order to gauge how much I should 'charge' consumers for the products within the chain, I needed to research into existing restaurants pricing range for similar products that will be on sale within the establishment I create.

Beginning with KFC:

Looking at this image shows the price range for KFC's chicken burgers. This is included as a meal with fries and a drink, which is something I should consider for my own product. A fast food restaurant usually offers this option, along with just a burger on its own. Again, I should consider the different needs of the consumers, whether they will need the option for a single product or a product as a meal. There are also different size meals, medium and large, which should also be considered as different consumers could need different size portions.

KFC's prices range from around £4.50 to almost £5 for a meal.

Next I moved onto Subway, the place for customisable subs.

Subway's prices are split into two categories, 6-inch & a footlong, which refers to the length of the sandwich, and dictates the price. As seen above, a 6 inch ranges from £3.09 - £3.59, and the footlongs from £3.59 - £5.59. This is because of the various toppings, especially the ones made from meat, which are more expensive to buy in as an ingredient.

Extras can be added to the sub such as extra cheese or bacon, doubling in price if applied to a footlong.

Finally I looked at a variety of prices of McDonalds food, which is arguably the most famous and successful fast food giant of them all:

For a product on its own (without fries & drink), McDonalds prices are quite low. This provides a very fast and affordable source of food, however one must ask why these prices are so low? The quality of the ingredients must also be questioned; if McDonalds were using organic and 'healthy' ingredients, the prices could look different. It costs more to produce 'good quality' meat, whereas it is debatable on the quality of meat used in establishments such as this, as ethics are not considered, just making sales.

"People in the UK spend about £45 billion a year on eating out, a whopping 28% of the total UK food spend. Of this total, £10 billion is spent in restaurants – half in independents, and half in large restaurant chains. The biggest ten restaurant chains have captured around 30% of the ‘casual dining’ market and have a combined turnover of roughly £2 billion." source

It is no surpise that these restaurants are capturing the public through their cheap prices; families can be fed for a small amount, and through the advertisements which will be analysed later during the project, families are comforted and assured that their food from McDonald's is of a trustworthy quality.